Tesla Stock Rises Ahead of Anticipated Robotaxi Event

Tesla's stock showed an upward movement early Tuesday, gaining 0.4% to reach $241.89, despite a recent 3.7% decline on Monday. The stock has exhibited significant volatility, fluctuating more than 3% in each of the past four trading sessions, with three losses and one gain during this period.

As investors look forward to Thursday's highly anticipated Robotaxi Day, where Tesla plans to unveil a physical robotaxi and discuss its business model, the stock has experienced a rally. Over the past month, shares have increased by about 14%, even with recent losses.

Analysts are closely monitoring the event, with some expressing caution about a potential "sell the news" reaction post-event. The history of ambitious timelines for product rollouts has led to skepticism about Tesla's self-driving technology promises.

Additionally, Tesla is facing management changes, as a vehicle-program manager recently left the company for a position at Waymo. Although management turnover is not uncommon at Tesla, such departures attract attention.

Year to date, Tesla's stock is down approximately 3%, reflecting concerns over slowing electric vehicle sales growth. However, since the announcement of Robotaxi Day, shares have surged nearly 50%.